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Synopsys up 10% to $95.20 after Q4 results, Q1 guidance top estimates

29

Nov

SNPSSynopsys

$86.77

-3.03 (-3.37%)

10/25/17

RBCM

10/25/17UPGRADETarget $100RBCMTop Pick

Synopsys upgraded to Top Pick on IoT and AI exposure at RBC Capital

As previously noted, RBC Capital analyst Mitch Steves upgraded Synopsys to Top Pick from Outperform and raised his price target to $100 from $90. Steves says the company's margin profile should improve over the next 2-3 years given the company's exposure to the "Internet of Things", Artificial Intelligence and Semiconductor content in automobiles. Steves also notes the company has an opportunity to take "sticky" hardware market share from Siemens' (SIEGY) Mentor Graphics.

10/25/17

10/25/17UPGRADE

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. 3M (MMM) upgraded to Neutral from Sell at Goldman Sachs with analyst Joe Ritchie saying amid "strong" organic growth and an underlevered balance sheet, the case to sell the shares is now "less apparent." 2. PulteGroup (PHM) upgraded to Neutral from Underperform at Mizuho. 3. Biogen (BIIB) upgraded to Outperform from Market Perform at BMO Capital with analyst M. Ian Somaiya saying risks to the multiple sclerosis franchise and Spinraza are getting "quickly priced in" following yesterday's post-earnings selloff. 4. Synopsys (SNPS) upgraded to Top Pick from Outperform at RBC Capital with analyst Mitch Steves saying the company's margin profile should improve over the next 2-3 years given the company's exposure to the "Internet of Things," Artificial Intelligence and Semiconductor content in automobiles. 5. Capital One (COF) upgraded to Neutral from Underperform at Wedbush with analyst Henry Coffey saying the company continues to report loan quality metrics in both its U.S. consumer credit card portfolio and commercial lending business that are consistent with his cautious outlook, but beating earnings per share estimates based on non-credit related items. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

11/22/17

RBCM

11/22/17NO CHANGETarget $110RBCMTop Pick

Synopsys price target raised to $110 from $100 at RBC Capital

RBC Capital analyst Mitch Steves raised his price target on Synopsys to $110 and kept his Top Pick rating on the stock going into October quarter results. Steves says the update on the Software Integrity business will be an especially important topic, forecasting the segment to recover from loss to a profit in FY19 which could be a "material lever for EPS in FY19 and beyond".

11/28/17

DADA

11/28/17NO CHANGETarget $105DADABuy

Synopsys price target raised to $105 from $91 at DA Davidson

DA Davidson analyst Thomas Diffely previews Synopsys Q4 earnings expected this Wednesday, modeling the company to report just ahead of consensus. Diffely says the multi-year drivers for Synopsys remain firmly in place amid accelerating semiconductor growth, increasing chip complexity, and "rising paranoia about security". The analyst says Q4 will likely be the lightest quarter of the year due to timing of revenues and seasonal expenses, and the initial FY18 outlook will be "fairly modest" because of a tough comparison to record hardware sales in FY17. Diffely keeps his Buy rating on Synopsys and raises his price target to $105 from $91.

AT&T Mobility has reached a tentative agreement with the Communications Workers of America in Mobility Orange contract negotiations. The four-year agreement, which will be submitted to the union's membership for a ratification vote in coming days, covers about 20,000 employees in 36 states and the District of Columbia - AT&T's Mobility Orange unit, which encompasses CWA Districts 1, 2-13, 4, 7 and 9.

Pfizer announced that the United States FDA has approved IXIFI, a chimeric human-murine monoclonal antibody against tumor necrosis factor, as a biosimilar to Remicade for all eligible indications of the reference product. The FDA has approved IXIFI as a treatment for patients with rheumatoid arthritis, Crohn's disease, pediatric Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and plaque psoriasis.

Western Alliance Bancorporation announced that during the first quarter of 2018 Robert Sarver will transition from Chairman and CEO to Executive Chairman. In conjunction with Sarver's change in role, Ken Vecchione will be promoted to Chief Executive Officer, Dale Gibbons to Vice Chairman and Chief Financial Officer, and James Haught to President and Chief Operating Officer, all effective April 1, 2018.

Aqua America announced that President and CEO Christopher H. Franklin has been elected chairman of the board, effective Jan. 1, 2018. Franklin became CEO in July 2015 and has served on the board of directors since October 2015. He succeeds Nicholas DeBenedictis, former CEO, who will continue to serve on the board as chairman emeritus.